Payment Service Provider: OpenSell uses Monnify, a licensed payment service provider, to facilitate wallet funding and financial transactions on our platform. Monnify is regulated by the Central Bank of Nigeria and adheres to Nigerian financial regulations.

Virtual Account Creation: To create a permanent virtual account for wallet funding, users are required to provide either their Bank Verification Number (BVN) or National Identification Number (NIN). This requirement is mandated by Nigerian financial regulations and Know Your Customer (KYC) compliance standards.

BVN/NIN Data Processing: Your BVN or NIN is securely transmitted to Monnify for identity verification purposes only. OpenSell does not store your complete BVN or NIN on our servers. This information is encrypted during transmission and handled in accordance with the Nigeria Data Protection Regulation (NDPR) and Central Bank of Nigeria guidelines.

Transaction Data: We collect and store transaction history, wallet balance information, and payment records to provide our services, maintain accurate financial records, and comply with regulatory requirements. This data is protected with bank-level security measures.

Financial Data Security: All financial transactions are processed through secure, encrypted channels. We implement multiple layers of security including SSL/TLS encryption, secure API integration, and regular security audits to protect your financial information.

Core Service Provision: We use your information primarily to provide, maintain, and improve our platform services, including enabling you to create and manage listings, communicate with other users, and participate in the marketplace ecosystem.

Platform Enhancement: We analyze usage patterns and performance metrics to understand how users interact with our platform, helping us identify areas for improvement and optimize user experience.

Communication: We use your contact information to respond to your inquiries, provide customer support, send administrative notices, and communicate important updates about our services or your account.

Data Protection Commitment: We want to emphasize that we do not use your personal data for marketing, advertising, data mining, or profiling purposes. Your information is exclusively used to deliver the core functionality of our platform and ensure a seamless user experience.

With Other Users: Your contact details are made available only on your listing's detail page to facilitate direct communication between potential buyers and sellers. Users must be logged in to access this information.

Service Providers: We may share information with trusted third-party service providers who assist us in operating our website, conducting business, or servicing you, subject to confidentiality agreements.

Legal Compliance: We may disclose information when required by law or in good faith belief that such action is necessary to comply with legal obligations, protect our rights, prevent fraud, or respond to government requests.

Limited Use Policy: We maintain a strict policy against using your personal data for targeted marketing, advertising, or selling to third parties. Your data is used exclusively to support the core functions of the platform as described in this policy.

Hosting Platform Only: OpenSell operates strictly as a platform for hosting product listings and facilitating connections between buyers and sellers. We do not participate in transactions between users and are not responsible for interactions, transactions, or experiences between users occurring on or off our platform.

No Transaction Liability: We explicitly disclaim liability for the quality, safety, legality, accuracy, or any other aspect of products or services listed or purchased through our platform. Users engage in transactions at their own discretion and risk.

Security Measures: While we cannot guarantee completely risk-free transactions, we implement reasonable security measures and precautionary protocols to create a safe environment for all users. These efforts constitute our commitment to platform integrity but do not constitute a legal guarantee or warranty.

Incident Reporting: We encourage users to report any negative incidents or safety concerns encountered while using our platform. Please contact us immediately with relevant documentation or evidence. Although we are not legally responsible for transactions between users, we are committed to reviewing reported issues and may take appropriate actions within our platform's scope.

Service Communications: We may send you essential transactional or service-related emails, such as listing confirmations, account security alerts, and platform updates. These communications are necessary for the operation of your account and the platform.

Opt-Out Options: You can manage your communication preferences and opt out of non-essential emails by clicking the unsubscribe link provided in those emails or by adjusting your notification settings in your account preferences.

Use of Cookies: We employ cookies and similar tracking technologies to enhance user experience, analyze site usage, remember user preferences, and optimize functionality. These technologies collect anonymous information about how you interact with our platform.

Cookie Management: You can control cookie preferences through your browser settings, including deleting or blocking cookies. Please note that disabling certain cookies may impact your experience and the functionality of our platform.

Security Measures: We implement appropriate technical, administrative, and physical safeguards designed to protect the personal information in our possession from unauthorized access, destruction, use, modification, or disclosure.

Data Integrity: We maintain reasonable measures to ensure that personal information is reliable, accurate, complete, and current for its intended use. However, the security of data transmission over the internet cannot be guaranteed to be 100% secure.

Wallet Functionality: OpenSell operates a closed-loop wallet system where funds deposited remain within the platform ecosystem and can only be used for transactions on OpenSell MarketPlace. Wallet balances cannot be withdrawn or transferred to external bank accounts.

Non-Refundable Wallet Funding: All wallet funding transactions are final and non-refundable. Once funds are successfully credited to your OpenSell wallet, they cannot be reversed, refunded, or withdrawn. Users should carefully consider the amount they wish to fund before completing any transaction.

Wallet Usage: Your wallet balance can be used to purchase products, pay for services, or conduct any other transactions available on the OpenSell platform. Funds remain accessible in your account indefinitely and do not expire.

Transaction Records: All wallet transactions, including funding, purchases, and balance adjustments, are recorded and accessible through your account dashboard. We maintain comprehensive transaction logs for audit and dispute resolution purposes.

Access and Control: You have the right to access, correct, update, or request deletion of your personal information. Most of these actions can be performed directly through your account settings.

Account Deactivation: You may deactivate your account at any time through your account settings. Please note that some information may be retained in our records after account deactivation for legal, administrative, or security purposes.

Data Request: If you require assistance or have specific requests regarding your personal information that cannot be addressed through your account settings, please contact our privacy team using the information provided at the end of this policy.

Policy Updates: We may update this Privacy Policy periodically to reflect changes in our practices, operational requirements, or legal obligations. When material changes are made, we will notify you by posting the updated policy on this page and updating the "Last Updated" date.

Review Encouragement: We encourage you to review this Privacy Policy regularly to stay informed about how we are protecting your information. Your continued use of our platform after any modifications to the Privacy Policy constitutes your acknowledgment of the changes and your consent to abide by the updated terms.

Governing Law: This Privacy Policy is governed by and construed in accordance with the laws of Nigeria. Any disputes arising under this policy shall be subject to the exclusive jurisdiction of the courts in Nigeria.

Regulatory Compliance: We are committed to complying with applicable data protection laws and regulations in the jurisdictions where we operate. This policy is designed to align with these requirements while providing transparent information about our practices.

NDPR Compliance: OpenSell MarketPlace Limited (RC: 8904110) is committed to complying with the Nigeria Data Protection Regulation (NDPR) 2019 and all applicable data protection laws in Nigeria.

Financial Regulations: Our payment processing and virtual account services comply with Central Bank of Nigeria (CBN) guidelines, including anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.

KYC Requirements: The collection of BVN/NIN information for virtual account creation is mandated by Nigerian financial regulations and is necessary for compliance with Know Your Customer (KYC) requirements.